CIT: Electronics, furniture look strong in 2015; mixed outlook for apparel

New York -- The consumer electronics and furniture sectors of the retail industry can look forward to growth in 2015, while the apparel sector faces a more mixed outlook. That was the message sounded by CIT Commercial Services executives during a roundtable discussion, "Everyone Looks Good in the Black: Retailers in the Economic Rebound,” part of the CIT Executive Insights series.



During the discussion, each CIT executive offered their views on the top trends they see ahead in various sectors of the retail market:



Marc Heller, Northeast regional manager and international manager, apparel:



• It’s a mixed bag in the apparel sector – retail sales for the holiday season in most cases were good, but the teen and luxury markets face challenges.



• The power of brands remains paramount, while the greatest growth opportunities are e-commerce and international expansion.



• In 2015, expect to see fewer retailers and more consolidation among vendors.



Mike Hudgens, Southeast regional manager, furniture:



• The furniture sector is looking forward to what could be one of the best years in a long time, especially in the Southeast and Southwest.



• Younger consumers want instant gratification, so retailers are focused on inventory and rapid delivery.



• Growth potential is seen in hospitality and institutional areas as baby boomers age and travel.



Mitch Cohen, Western regional manager, consumer electronics:



• The consumer electronics sector is very healthy right now – recent Consumer Electronics Show remains one of the largest tradeshows in Las Vegas.



• More consumers are using the Internet in addition to going to retail stores; brick-and-mortar locations have become more of a showroom.



• Cautious optimism for the sector in 2015, with continued growth expected for the year.